The UK’s smallest businesses are facing a bill of £6.7 billion, up from £2.6 billion in 2017 – just to collect money they’re already owed, according to new research by Bacs Payment Schemes Limited (Bacs).
• New record of 123 million payments processed in a single day by Bacs
• Beats previous record of 114 million transactions recorded in August of this year
A new daily processing record has been set by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK.
The leading retail payments authority in the UK – formerly known as the New Payment System Operator / NPSO – has a new name and brand: Pay.UK.
Moving to this new identity helps Pay.UK better promote its core purpose - transforming the UK’s payment infrastructure to enable a vibrant economy - as well as being a logical progression following the recent consolidation of the UK’s three retail payment schemes (Bacs, Faster Payments and the Cheque and Credit Clearing Company) into the NPSO.
Last month proved to be a record-breaking one for Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK.
Cambridgeshire-based Direct Debit and automated payment processing company, Eazipay Ltd, has reported a spike in the number of Care Homes looking at Direct Debit as a means of collecting their fees.
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